Should You Cancel Unused Credit Cards or Keep Them?

Dec, 19 2024

Deciding whether to cancel unused credit cards can be challenging, as it involves weighing the impact on one's credit score, financial security, and spending habits. This article explores the potential benefits and drawbacks of closing dormant accounts and keeping them open. Readers will find insights into how credit utilization ratios and credit history lengths affect credit ratings. It also provides practical steps and tips to help individuals make informed decisions that align with their financial goals.

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